Articles by FX Markets Staff
Derivatech wins first options risk software deal in China
BEIJING -- Bank of China has licensed FX options software from US-based vendor Derivatech in what marks the country’s first forex risk management software deal.
Options specialists on the move
LONDON -- FX options specialists are in demand as exotic options become increasingly important to leadership in the area.
India’s central bank governor to continue rupee intervention
MUMBAI -- The new governor of the Reserve Bank of India (RBI) is expected to maintain current exchange rate policies, which will cause the Indian rupee to continue its steady rise against the dollar, analysts told FX Week .
ABN to create new division
AMSTERDAM -- ABN Amro’s current global head of FX options, Douglas Bongartz-Renaud, will transfer to a new role in the bank’s wholesale banking business as part of a reorganisation set to take place over the coming months, a source close to the bank told…
Report reveals overlay lag
LONDON – Institutional investors in Europe remain unconvinced of the merits of currency overlay, according to a report out last week.
First senior hires at CAI-BFI
LONDON – Crédit Agricole Indosuez (CAI) has made the first senior appointments for CAI-BFI, the institution to be created from the merger of CAI and Credit Lyonnais. However, appointments to the FX business are not due until later this month, senior…
WestLB reaches for Summit
Düsseldorf – The global financial markets group of Düsseldorf-based Westdeutsche Landesbank (WestLB) has selected New York-based transaction processing technology company, Summit Systems, for a major consolidation of its systems environment. The…
JPMC merges cross-product US middle-market teams
NEW YORK – JP Morgan Chase has merged three cross-product teams serving US-based firms, to bring together the bank’s middle market service across the US, a senior official told FX Week .
Greater role for dealers in FX fraud prevention
WASHINGTON – New rules jointly announced by the US Commodity Futures Trading Commission (CFTC) and National Futures Associations (NFA) last week will give dealers greater responsibility for the prevention of FX fraud by unregulated counterparties.
Almeida rejoins Deutsche as global FX sales head
LONDON – Dan Almeida will begin in the newly created position of global head of foreign exchange sales at Deutsche Bank in London on September 2.
Scandinavia beckons FX fund managers
LONDON – Low interest rates and relaxed legislation in Scandinavia and continental Europe could make institutional investors in those regions key prospects for currency fund managers.
FX futures contribute to surge in managed assets
LOS ANGELES – The managed futures industry has experienced record-breaking growth over recent months, and currency futures form a "very significant" part of that, according to a report from US-based specialist research firm The Barclay Group last week.
Currency funds continue to fall
STAMFORD, CT – Currency funds fell for the second consecutive month in July, as the dollar held fast against both the euro and Japanese yen, according to Parker Global Strategies’ FX Index, which was down 1.88% for the month.
Dual deposits reap high-yield rewards
Ray Franzi, head of FX structuring at Dresdner Kleinwort Wasserstein in London, offers an opportunity for customers to achieve high Japanese yen deposit rates
Asian central banks favour liberalisation
Recent developments suggest a move towards liberalisation rather than revaluation in Asian currencies, says David Mann (right) economist at Standard Chartered Bank in London
HK yuan centre unlikely in near-term
HONG KONG – Speculation that the Chinese government may create an offshore yuan centre in Hong Kong has increased in recent weeks, but such a move is unlikely in the short-term, market participants told FX Week .
Prime broker fees "too low"
LONDON – Pricing credit risk has come under scrutiny from central bankers in London, as increased competition for prime brokerage business has brought service fees crashing down.
BoJ still to intervene despite August respite
TOKYO – Analysts expect further intervention in the currency markets from the Bank of Japan (BoJ) in September, following reports that the central bank had already sold yen at the end of last week.
Weak economy could prompt Taiwan currency strengthening
TAIPEI – Taiwan’s weak economy could force the currency higher, according to Barclays Capital last week.
Prime broker fees "too low"
LONDON – Pricing credit risk has come under scrutiny from central bankers in London, as increased competition for prime brokerage business has brought service fees crashing down.